Biodel Inc. (NASDAQ:ALBO) major shareholder Plc Astrazeneca sold 500,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $21.40, for a total value of $10,700,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Shares of Biodel Inc. (NASDAQ ALBO) traded up $0.05 during trading hours on Wednesday, reaching $25.30. 58,200 shares of the company traded hands, compared to its average volume of 26,552. Biodel Inc. has a twelve month low of $15.31 and a twelve month high of $29.20.

An institutional investor recently raised its position in Biodel stock. Renaissance Technologies LLC boosted its position in Biodel Inc. (NASDAQ:ALBO) by 0.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 149,632 shares of the biopharmaceutical company’s stock after purchasing an additional 794 shares during the period. Renaissance Technologies LLC’s holdings in Biodel were worth $3,591,000 as of its most recent filing with the SEC. 29.22% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Biodel in a report on Thursday, October 26th. ValuEngine cut shares of Biodel from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Cowen initiated coverage on shares of Biodel in a research report on Wednesday, August 16th. They set an “outperform” rating for the company. Zacks Investment Research cut shares of Biodel from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Finally, Wedbush restated an “outperform” rating and issued a $58.00 price objective on shares of Biodel in a research report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $53.75.

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Biodel Company Profile

Biodel Inc is a specialty biopharmaceutical company. The Company focuses on the development and commercialization of treatments for diabetes. The Company is engaged in developing product candidates by applying its formulation technologies to existing drugs. The Company is engaged in developing room temperature stable glucagon presentations for use as a rescue treatment for diabetes patients experiencing severe hypoglycemia.

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